Zendesk Shareholders Poised to Reject Value Destroying Momentive Acquisition
Rhea-AI Summary
JANA Partners LLC has formally expressed strong opposition to Zendesk's planned acquisition of Momentive (formerly SurveyMonkey). In a letter to the Zendesk Board of Directors dated January 3, 2022, JANA emphasized shareholder concerns and called for an immediate termination of the transaction, describing it as potentially damaging to shareholder value. The letter outlines reasons for their stance and highlights the necessity for the Board to reconsider the deal.
Positive
- None.
Negative
- Shareholder opposition to the Momentive acquisition could lead to a failed transaction.
- Concerns raised suggest potential value destruction for Zendesk shareholders.
News Market Reaction 1 Alert
On the day this news was published, MNTV gained 0.43%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Jan. 3, 2022 /PRNewswire/ -- JANA Partners LLC today announced that it has sent a letter to the Zendesk (NYSE: ZEN) Board of Directors highlighting shareholder opposition, revealing new concerns regarding the proposed acquisition of Momentive (NASDAQ: MNTV-formerly SurveyMonkey), and calling on the Board to immediately terminate the transaction.
The full text of JANA Partners LLC's letter is available for viewing at the following link: www.janapartners.com/zendesk
Contact: IR@janapartners.com
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SOURCE JANA Partners LLC
FAQ
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